09-02-2021
Kentech acquires oil and gas business from SNC-Lavalin
Kentech Group has entered into a definitive agreement to acquire the oil and gas business of Toronto-listed SNC-Lavalin Group Inc. Completion is anticipated in the first half of 2021 subject to regulatory approvals and satisfaction of customary closing conditions.
Kentech is a privately-owned specialist services and solutions firm for the energy industry. It operates in three key areas: engineering and projects; commissioning and start-up services; and turnaround, maintenance and modifications. The company is backed the global energy investment firm, Blue Water Energy.
The prospective acquisition includes the people and assets brought together through SNC’s acquisition of Kentz and other energy services businesses, and would create a company that can provide full asset life cycle services to the energy industry. It increases Kentech’s geographical footprint and the number of employees to over 10,000. The company will have a backlog of USD1.1 billion, and benefits from specialist talent, market reach and a robust balance sheet to allow the business to compete for premium contracts covering complex and technical projects.
The combined roster of blue-chip clients includes ADNOC, BP, Chevron, ExxonMobil, KOC, Qatar Petroleum, Saudi Aramco and Shell, as well as petrochemicals firms INEOS, LyondellBassel and Nova Chemicals.
John Gilley, Chief Executive Officer of Kentech Group: “By investing now, we are strategically positioning Kentech as a leading energy services firm to take advantage of the next cycle of growth in the sector. We are accelerating our growth strategy by several years by acquiring additional expertise, a wider global reach, and improving our technical differentiation but importantly, never compromising on our operational and geographical agility which is paramount for our joint key clients.
“Also, we are actively addressing the challenges of the global energy transition and this acquisition has given us an entry point to realise our long-held ambitions to become a significant player in this space. It is an area of business that our clients will be investing heavily in.
By acquiring SNC-Lavalin’s oil and gas business, Kentech will provide the full suite of services through the lifecycle of an asset from design and build, commissioning and startup, through to modification, maintenance and turnaround, as well as decommissioning services. It will help accelerate Kentech’s growth strategy and is part of of the company’s efforts in addressing the challenges and opportunities of the global energy transition.
With this acquisition, the company is well positioned to support moving its clients to new energy transition projects as the sector moves towards a cleaner and greener future.
John Gilley continues:“What excites me the most about this acquisition is the prospect of combining, and in some cases reuniting, the professional men and women of our two companies and working with them to reset and transform our way into a very bright future.
“With presence in key countries in the Americas, Europe and the Caspian, the Middle East & Africa and the Asia-Pacific region, this transaction enables the company to deliver its best in class services to clients across all global energy markets.”
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
MOL inaugurates its polyol complex in Tiszaújváros
MOL's EUR 1.3 billion polyol complex in Tiszaújváros, boasting a capacity of around 200,000 tonnes of polyol per year, has been inaugurated. The ceremony, addressed ...
15-05-2024
-
NEXTCHEM completes the acquisition of GasConTec
Further to the announcement made on 4 March 2024, MAIRE announces that NEXTCHEM has finalized the acquisition of 100% of GasConTec GmbH, an innovative company specialized ...
15-05-2024
-
KBR awarded digital solutions contract by OCI
KBR announced today it has been awarded a contract by OCI Global to design and deploy its proprietary operator training simulator for OCI's 3,000 metric tonnes ...
13-05-2024
-
Worley awarded Bayou Bend CCS carbon capture and storage facility contract
We’ve been selected to design and evaluate CO2 gathering, handling and sequestration facilities located along the Gulf Coast in Southeast Texas. Bayou Bend ...
13-05-2024
-
Black & Veatch delivers feasibility study for Andes Energy LNG Terminal
Global liquefied natural gas (LNG) infrastructure solutions leader Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, LNG regasification ...
09-05-2024
-
Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC
Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company ...
08-05-2024
-
Integrated Global Services recognized for role in mega turnaround
Integrated Global Services has been recognized as a major contributor to the successful Ras Tanura Refinery 2024 Mega Turnaround and Inspection for Saudi Arabian Energy ...
08-05-2024
-
Ebara Elliott Energy to provide compressor for SAF project in Thailand
Ebara Elliott Energy, formerly Elliott Group, announces it has been contracted to provide a motor-driven recycle compressor with a variable frequency drive (VFD) for ...
07-05-2024
-
ETH Zurich select hte to provide high throughput test system designed for CO2 electroreduction
hte – the high throughput experimentation company was awarded a contract by the technical university ETH Zurich to provide a high throughput test system designed for ...
07-05-2024